Low, Hamish; Meghir, Costas; Pistaferri, Luigi - Institute for the Study of Labor (IZA) - 2008
London WC1E 6BT
United Kingdom
E-mail: c.meghir@ucl.ac.uk … governed by the process:
lnw
it
= d
t
+x
0
it
ψ +u
it
+e
it
+a
ij(t
0
)
(1)
where w
it
istherealhourlywage,d
t
represents the … log price of human capital at time t, x
it
a vector
of regressors including age, u
it
the permanent component of wages …